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03-29-2009, 10:38 AM
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#21
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Recycles dryer sheets
Join Date: Apr 2008
Posts: 125
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 Quote:
Originally Posted by TeeRuh
92; surprised at how low the averages are. (Lot's of people will obviously not retire early.)
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64. Guess it's just ignorance.
Or the fact that I'm retired, under 50 yo, can't buy any more IRAs, may not ever see SS, and no way would touch an annuity.
No questions on tax credits for full time students, not interested.
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03-29-2009, 10:59 AM
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#22
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Administrator
Join Date: Apr 2006
Posts: 23,036
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80. Some I just didn't know because they aren't applicable to my life (like the income limit for a non-working spouse IRA contribution and the length of time you must be married to collect spousal SS) and some I just disagree with the ostensibly "correct" answer. For example, the allegedly correct answer on "why should you not buy an annuity in a 401k, 403b, etc account" was "all of the above" -- i.e. it is already tax sheltered, the commissions are high and the surrender charges are high -- but in my opinion, the correct answer should be only "because it's already tax sheltered" since the other factors exist even in a non-tax sheltered account.
__________________
Living an analog life in the Digital Age.
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03-29-2009, 11:21 AM
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#23
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,124
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84 - of the 4 I got wrong, one of my replies was just plain stupid by me 
Thanks for posting the quiz.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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03-29-2009, 11:27 AM
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#24
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Thinks s/he gets paid by the post
Join Date: Mar 2004
Location: Dallas
Posts: 1,211
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I am 74 and have been retired 20 years so the world has moved on
since I was vitally interested in the nuts and bolts. At least I beat
my age, but not by much.
Cheers,
charlie
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03-29-2009, 01:26 PM
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#25
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Recycles dryer sheets
Join Date: Aug 2008
Posts: 155
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100, but I had to think about the annuity questions and just guessed on the life insurance question.
I think one of the questions is not strictly correct:
Once I retire how much money can I earn without losing benefits
Correct answer: If you are over 65, there is no limit on how much you can earn.
But, the answer should have been If you are over your full retirement age, there is no limit on how much you can earn.
From the SS page: "While you are working, your earnings will reduce your benefit amount only until you reach your full retirement age."
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03-29-2009, 04:24 PM
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#26
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Recycles dryer sheets
Join Date: May 2007
Posts: 148
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84
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03-29-2009, 04:35 PM
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#27
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,525
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80. My booboos were annuity related I guess that shows I'm a prime candidate for one - NOT!
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03-29-2009, 06:08 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
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Your results
Review quiz answers
You scored: 84
How you compare
The average score for MSN Money readers is58The average score for men is59The average score for women is56Average scores by age
15-244625-345435-545755-645965 and over59You have a solid understanding of the issues needed to plan your own retirement. You have a clear grasp of the concepts and understand many of the regulations concerning your nest egg. You can brush up further by reading MSN Money articles on planning for retirement, saving for retirement, living well in retirement and estate planning. Play with our retirement planner, too. Other calculators:
Guess I better bone up a bit and not get married or buy any annuities!
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03-30-2009, 06:54 AM
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#29
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
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84
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03-30-2009, 08:34 AM
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#30
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2007
Posts: 13,227
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Quote:
Originally Posted by Gumby
80. Some I just didn't know because they aren't applicable to my life (like the income limit for a non-working spouse IRA contribution and the length of time you must be married to collect spousal SS) and some I just disagree with the ostensibly "correct" answer. For example, the allegedly correct answer on "why should you not buy an annuity in a 401k, 403b, etc account" was "all of the above" -- i.e. it is already tax sheltered, the commissions are high and the surrender charges are high -- but in my opinion, the correct answer should be only "because it's already tax sheltered" since the other factors exist even in a non-tax sheltered account.
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84 and I completely agree on that annuity/401K question, so I'm giving myself an 88.
I didn't know who can have a 403B because it doesn't apply, and I missed a couple of the SS questions.
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03-30-2009, 08:52 AM
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#31
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Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
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This board is sort of like the Lake Wobegon children; we're all above average!
t.r.
__________________
Life is a Holiday!
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03-30-2009, 09:13 AM
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#32
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Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,603
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80 ... I'll take it considering half of the material does not apply to me.
__________________
FIRE'd since 2005
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03-30-2009, 10:36 AM
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#33
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Full time employment: Posting here.
Join Date: Apr 2006
Posts: 880
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I scored 84. I agree that the quiz seem limited. I understand why the younger participants didn't average high scores (SS and tax laws will probably change), but the 45+ plus crowd average scores surprised me. I've learned a lot from participating on this forum and for reading lots of retirement articles.
Thanks for sharing!
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03-30-2009, 03:44 PM
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#34
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Recycles dryer sheets
Join Date: Nov 2007
Location: Denver
Posts: 170
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80, a lot of questions that don't apply to me...
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03-30-2009, 04:49 PM
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#35
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Recycles dryer sheets
Join Date: Dec 2006
Posts: 347
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__________________
USCG regulations say you have to go out. They don't say anything about coming back.
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